What caused Alibaba's stock to drop?

Shares of Alibaba plummeted in Hong Kong on Friday after the tech giant warned of weaker growth this year as China’s economy slows and Beijing continues its regulatory crackdown . Alibaba (BABA) dropped 10.7%, the steepest decline since its listing in the city in November 2019.

What was Alibaba's peak stock price?

A month later, authorities opened an antitrust probe against Alibaba. Since then, Alibaba's stock price in Hong Kong has fallen to about HK$80 (US$10.20), down more than 70 per cent from its peak of HK$307 in October 2020. Do you have questions about the biggest topics and trends from around the world?

What is Alibaba's stock price?

China's top e-commerce and cloud platform company initially dazzled investors with its robust growth rates, and its stock hit an all-time high of $317.14 in October 2020. Today, Alibaba's stock trades at about $87, which is still above its IPO price of $68 per share but well below the range where it traded in its heyday.

What are the company news of Alibaba?

Company News: Alibaba’s logistics arm Cainiao has announced the opening of its Latin American headquarters in Sao Paulo, Brazil, according to CNBC. -rival Leapmotor, which announced its first quarterly results post its IPO, has posted a 400% rise in its revenue while its net loss has doubled, reported CnEVPost.